HCL Technologies said its revenue is likely to grow between 10.5-12.5 per cent in constant currency terms. It further added FY18 expected Operating Margin (EBIT) range is from 19.5 per cent to 20.5 per cent. (Photo: Reuters)India’s fourth largest software services firm HCL Technologies shares rallied over 1 per cent on Thursday after the company announced its fourth quarter results and gave a firm revenue guidance. At 9.31 am, share price of the company was trading 0.92 per cent up at 850.05. The share price opened at Rs 855 and touched the high and low of Rs 858.20 and Rs 849, respectively, in trade so far.Later, the share price of the company ended 0.43 per cent down at Rs 838.65.
The company’s net profit stood at Rs 2,475.27, registering a growth of over 27 per cent for the quarter ended March 2017 as compared to Rs 1,938.66 crore in the January-March 2016 quarter. HCL Technologies said its revenue is likely to grow between 10.5-12.5 per cent in constant currency terms. It further added FY18 expected Operating Margin (EBIT) range is from 19.5 per cent to 20.5 per cent.
While announcing the results, HCL Tech also that its Board of Directors has declared an interim dividend of Rs 6 per equity share of Rs 2 each of the company for the financial year 2017-18.
The company’s total income was up over 20 per cent to Rs 13,183 crore in the quarter under review from Rs 10,925 crore in the corresponding quarter last year, as per Indian accounting standards. For 2016-17, net profit was up over 53 per cent to Rs 8,606.47 crore, while total income grew nearly 52 per cent to Rs 48,640.85 crore from the previous financial year.
“For the year FY’17, we delivered a strong double–digit constant currency revenue growth of 13.7 per cent… Going forward, we will continue to accelerate investment in high–growth areas, driven by our Mode 1-2-3 strategy and sustain our trajectory of delivering exceptional value to our employees, customers and shareholders,” HCL Technologies President and CEO C Vijayakumar said.
In a BSE filing the company said it has signed eight transformational deals.
On employeess front, the company HCL had 1,15,973 employees with a gross addition of 10,605 people at the end of March 2017 quarter. Its attrition for IT services (on last 12 month basis) was at 16.9 per cent, lower than 17.3 per cent in the corresponding quarter last year.